Car owners are often forced to make a decision: Fix an old car or buy a new one. There are pros and cons, no matter what you choose. While the answer will vary depending on the specific situation, here are a couple of pros and cons to consider before making a decision.
Pros of fixing your car instead of buying a new one
While buying a new car might seem like an exciting adventure, the reality is that fixing your car instead of buying a new one is way less expensive in most cases. Of course, sometimes a car may be damaged to the point of no return, or it may have so much damage that the bill might actually be the same as a price for the brand new car. But these are exceptions. When your car has light to medium damage it is always better to fix it and save money. Fixing your car can be even cheaper if you buy used car parts instead of new ones.
Cons of Fixing Your Car
Car repair shop visits can become too frequent and they may even start interfering with your daily life. Not only is this process way more time-consuming than just getting a new car, but it is also more stressful. Having to constantly worry about your car can really contribute to your overall stress levels.
Pros of buying a new car
While this choice is more expensive, it can save you a lot of stress and uncertainty in the future. With a car that needs constant fixing, you are never really at peace when driving on the road. Your old car may break down every second. In addition to that, if your car constantly needs something fixed, it may really not be worth it to keep it around. With the new car, you can drive safely, confident that it won’t break down in the middle of the highway.
Not only do the constant trips to the repair shops cost a lot of money but valuable time as well. Especially for someone who lives a busy life, car problems are the last thing you want to fill your days with.
Cons of buying a new car
As mentioned above, a major con of buying a new car is that it will almost always be more expensive than just fixing your old car. In addition to that, we all know that cars are not necessarily a good investment since they lose value over time. Additionally, when you buy a new car, all the paperwork, and procedures you had to go through with your old car have to be done all over again. While these may not contribute to your costs, it does require a lot of time and waiting around which may intervene with your daily life and put an additional strain on you.
While there is no right answer, if you keep all these factors in mind the next time you have to make this decision, you’ll be able to make the right call for your situation.